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Great thanks for the quick reply. Will it be compatible to get 11.10 repo on 12.04 ? Or do i have to wait (actually we do not have another slave to backup our master and i dont want to let this any longer )

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well we havent upgraded to 5.5 yet but are in the process of upgrading the os to precise - i would not like to do those two major upgrades at once, especially since i havent checked out all the changes which come with percona-server 5.5.